Welcome to "More Profit & More Time" that includes your fifth e-lesson on Simon's Success Strategies - Start 2005 Polished, Planned & Prepared.

In this issue:

Part 1 – Simon’s Success Strategies 2005 - Start 2005 Polished, Planned & Prepared

Time Management - 10 Simple Steps to Time Management       Part 1

Part 2 – Advisors Only

Shift your Practice from Free to Fee, Switch to Wealthy Clients, Reduce Your Profit Mix to The Most Profitable and Carve Out a Niche Market or Two and Attract and Hire a Crack Support Team and Develop an Internet Niche Marketing System – Simple Right?

Advisor Forum Communication Tips

Part 3 – Coaching Case Studies

How Much Money You Wasting On Your Employment Ads?

Part 4 – Reilly's Reflections & Rants

“Behavioral Time Management” Assessment and follow up “Behavioral Time Management” Teleclass

      The Entrepreneurs Reality Check List

To start off, I just thought that I would humor you with a rather shameless, self indulgent plug.

The following e-mail was copied to me in follow up to the TV spots on BCTV News on Global.

I am so lucky and I have the best mother-in-law in the whole wide world. 

* * *
Thanks to the TV spots on BCTV News on Global, we have just gone over the milestone of 1000 combined readers on the More Profit & More Time and Simon's Success Strategies E-Newsletters!

* * *
As I am writing this on February 8^th, I just finished a one hour, in-office speaking presentation for ReMax Real Estate Services Ltd.  Thanks again to Paula for creating the opportunity.  The speaking presentation went extremely well and I would not change a thing.  I am certain that the members of the audience received full value.

We videoed and taped the presentation, and we will have excerpts of the video and MP3 available on our web site in the not too distant future.

If you are interested in having us speak to your association, business, sales team or study group, please see the attached flyer Public Speaking and contact Laura to schedule; lreilly@leadingadvisor.com

* * *
We are in production on a Products & Services section for our web site, a Web Blog complete with search capabilities and we are about to launch a Time Management Assessment along with a supporting Group Teleclass.

The illusive voice recognition software is about 1/3 of the way through the programming and I can’t wait to start using it.  That means I can come in from a presentation, turn my digital voice recorder on and play back the presentation and the voice recognition software will type out the presentation in text format.  Then I will be able to share some of my best material with you.

So read on for Simon’s Simon Success Strategies – Start 2005 Polished, Planned & Prepared - E-Newsletter #5 – 10 Simple Steps To Time Management – Part 1

May all your dreams come true and may 2005 be your best year ever.

Simon Reilly
sreilly@leadingadvisor.com

Here are a few reminders to go to;

* the main page of our Leading Advisor website - click or go to; www.leadingadvisor.com
* past e-newsletters and worksheets click or go to;                    www.leadingadvisor.com/resources.html
* unsubscribe click or go to;                                                      www.leadingadvisor.com/newsletter.html

The fifth step is Time Management - 10 Simple Steps to Time Management – Part 1

1. What are your beliefs about time?

Are you saying?

• I don’t have enough time

• There is too much to do

• I’ll never get it all done

What ever you believe, you are right.

This reminds me of a quote from John Kehoe, author of Mind Power.  “Thoughts are real forces”.

What if you were to adopt the belief of;

• I have an abundance of time for anything that I am committed to doing!

In your journal, draw two columns on a page, make a list of all of the limiting beliefs that you have about time in the left column. 

In the right column, write down the antithesis or opposite positive belief to the negative belief.

Practice focusing on the positive beliefs on a regular basis.

You can do the same process with your goals also.
 

2. Plan Your Day & Do Your ABC’s

• Make a list of everything you have to do every day
• Prioritize the list into A's, B's, and C's
• Do the most important things first, the second most important things second, the third things third

Do Your ABC’s

• A's are the things that you must do today

• B's are the things that you would like to do today

• C's are the things that are not essential for you to do today
   

3. Check in every 15 minutes

To make sure that you are on track, every 15 minutes ask yourself;  “Is what I am doing right now taking action towards the intended outcome of my goal?”

Some people go so far as to setting an alarm on their watch or computer to keep them on track.

If the answer to the question is no then;

• Stop doing it

• Find someone else to do it

• Record it on a list to schedule for future action

• Forget it

Call to Action 

1. What are your beliefs about time?
    

2. Plan Your Day & Do Your ABC’s
    
3. Check in every 15 minutes

Part 2 – Advisors Only

Shift your practice from Free to Fee, Switch to Wealthy Clients, Reduce Your Profit Mix to The Most Profitable and Carve Out a Niche Market or Two and Attract and Hire a Crack Support Team and Develop an Internet Niche Marketing System – Simple Right?

What can the financial advisor industry learn from the coaching industry?

I attended the Advisor’s Forum Conference in Toronto in December of 2004, the following comments really caught my attention from some of the speakers at the conference.

Integrating Life Planning and Financial Advising is not working, you can’t be an expert in both – no one is making over $150K doing Life Planning and Financial Advising - John J. Bowen, Jr., CEG Worldwide, LLC

I am not here to debate whether coaching works. I am not suggesting or asking you to add Coaching or Life Planning to your practice.  The question is should you put what I have learned to work for you in your Financial Advising Practice to become a better Financial Advisor?

The following is a summary of points that I picked up at the conference along with some of my own perspective comparing;

Are You a Salesperson or a Financial Advisor?

The Salesperson;

1. Lives in the past and criticizes the future.
2. Believes that the challenges that they are facing are so big that they may not make it.
3. Gets pumped up to sell.
4. Is trying to fly solo.
5. Sells too many products.
6. Loves to talk about their favorite subject, themselves and their “flavor of the month” product.
7. Uses sales techniques.
8. Builds rapport.
9. Tries to sell during the appointment.
10. Insensitive and avoids deep client communication because they are under pressure.
11. Makes clients feel nervous because they sense a lack of energy, money and time.
12. Tries to look after people’s money.
13. Does a lot of favors.
14. Does not feel acknowledged by the work that they do for clients.
15. Has way too many clients and is not making enough money.
16. Lacks the support and systems to provide a consistent experience.
17. Has conflict with management, staff and other advisors and just wings it when it comes to hiring new people.
18. Does not delegate, tries to do everything themselves, too busy with $10 per hour work.
19. Has poor customer service.
20. Has clients versus the wealthy (note – wealth is a state of mind).
21. Sells products / completes product transactions for free for the client.
22. Promises market leading performance.
23. Tries to serve anyone and everyone.
24. Is addicted to growth.
25. Is too busy to form strategic alliances because they have to get to the next sale.
26. Has an automated marketing system.
27. Has no automated client relationship system.
28. Is afraid to ask for referrals because of fear of rejection or they are afraid they will be questioned – “how can I give you a referral when you are not doing a good enough job”? 
29. Is marginally interested in professional growth – they are too busy.
30. Has no clue what success would mean to them.
31. Even though they are still working, the have already retired emotionally.

The Advisor;.

1. Lives in the present and looks forward to the future
2. Believes that the future has so much opportunity that they cannot miss.
3. Feels inspired and motivated by how many lives they make better, sale or not.
4. Works with a team of specialists and their teams.
5. Leads with a profit generating product.
6. Loves to talk with their clients about what their client wants to talk about.  The client wants to know what you are going to do for them not so much about the product.
7. Seeks to serve.
8. Takes a genuine interest.
9. Is elegant and professional.
10. Emphasizes deep client communication because of their emotional intelligence.
11. Makes clients feel at ease and develops trust because the clients feel the advisor is at peace with who they are, that the advisor has adequate funds to be in business and the advisor has ample time to be with the client.
12. Looks after people who have money.
13. Believes every client transaction must be profitable.
14. Feels fulfilled from the inside through the work that they do for clients.
15. Has a delivery mechanism to provide a consistent experience.
16. Works well with selected clients in specific groups and the advisor is profitable.
17. Has a strong system to develop and enhance team communication and a system for hiring the best people.
18. Has an excellent support team.
19. Has “Wow” customer service.
20. Works with the wealthy versus clients (note – wealth is a state of mind).
21. Uses the consultative process and charges a fee.
22. Promises regular returns.
23. Chooses to work with a maximum of 3 groups or niche markets.
24. Has built their practice based upon their values, vision, purpose and mission.
25. Forms strategic alliances.
26. Has high and low prospecting cycles.
27. Has a web site and e-newsletter.
28. Educates clients that providing referrals is a part of their business process.
29. Is dedicated to professional and personal growth.
30. Has a personal definition of success.
31. Embraces retirement one day because they are creating an emotionally intelligent retirement plan.

So there you have it.  From some of the best minds in the industry just shift your practice from Free to Fee, Switch to Wealthy Clients, Reduce Your Profit Mix to The Most Profitable and Carve Out a Niche Market or Two and Attract and Hire a Crack Support Team and Develop an Internet Niche Marketing System along the way.

Simple right?  So why is it that most advisors are having trouble doing this?  So why is it so challenging to shift from being a salesperson to an advisor?

Stay tuned for the answers to these questions in the March 1^st Issue.

Advisor Forum Communication Tips

Practice Communication Tips

#1
Set Goals For Each Communication Tool
Before deploying any type of communication, make sure that you have outlined the purpose of the communication. Track the results and “tweak” your communication strategy based on your results.

#2
Use Your Newsletter Regularly And Tell Your Clients How Often And When To Expect It
Clients who expect to receive a newsletter on a regular basis are more likely to read it.

#3
Don’t Over-Promise Or Under-Deliver
You may find a monthly schedule too much to handle. When developing your communications strategy make sure you and your staff can actually follow through with promises.

#4
Create An Archive Of Your Newsletters On Your Website
By placing PDF’s of past issues on your site, you’ll quickly build up a personal finance library for your clients’ reference. But set a time limit: if the edition is too old, you may be providing clients with out-of-date or inaccurate information.

#5
Write A Finance Column For Your Local Newspaper
Many local or community newspapers are starved for content and will happily welcome you into the fold. It’s a great way to position yourself as a knowledgeable financial professional and get “free advertising” at the same time.

#6
Get Mutual Fund Co-Op Funding
If you’re doing marketing that is related to mutual fund investing (mailings, newsletters, etc.), you could have up to 50% of the cost paid for by mutual fund companies – but make sure you follow the rules (National Swales Practices Code).

#7
Watch Your Use Of Quotations And Your Clients’ Sensibilities
Advisors love to use quotes in their communications, but be careful you don’t offend client sensibilities. You may find a quote memorable, but do you really know how all your clients fee about who said it? Not everyone feels the same about Margaret Thatcher, Gloria Steinem, Ronald Reagan, or Pierre Trudeau.

#8
Turn Features Into Benefits
Clients are not interested in product features; they want to know: “What’s in it for me?” To turn a feature into a benefit, try this simple exercise: state the product feature and add the phrase “so that…” to determine the benefit. Example: This GIC is cashable at any time SO THAT… you’ll have access to your money if you need it.

#9
Don’t Put A Link To A Search Engine On Your Website
If you think it would be helpful to your Website visitors, think again! In a 2003 Neilson/Net Ratings survey, only 6% of respondents said they use search engines to find personal finance information. More importantly, their search results could take them to your competitors. Instead, concentrate on having a useful and informative site yourself.

#10
You Are Your Own Worst Editor
Always have someone else take a look at everything you plan to send to a client. You may not be communicating what you think you are. You also won’t spot errors in your own writing. Ask a “fresh set of eyes” to give it a once over. Errors and typos hurt your professionalism and distract from your message.

Part 3 – Coaching Case Studies

How Much Money Are You Wasting On Your Employment Ads?

I often work with my clients on hiring projects.

The process can include;

• Using Values & Behaviors Assessments to Pre-Assess & Determine the Values & Behaviors that are required for the Position so we can use this as a Benchmark.
• Writing the Ad for the Position
• Placing the Ad
• Reviewing the Resumes
• Contacting the applicants to advise them of our Hiring System and sending them questions that we would like them to answer
• Telephone interview
• Assess Values & Behaviors
• Live Interview
• Present 3 – 5 Qualified Applicants to our Client that can do the job

One of the things that I recommend that we do for our clients is writing the Ad for the Position.

I see so many companies wasting money on Ad copy that needlessly talks about the company and how great it is.  All an applicant needs to do is go to www.yourcompany.com and they can find out all they need to know.

The second mistake is companies’ waste money on going into too much detail about the job description and again, www.yourcompany.com will do the job.

The most important thing that your Ad needs to do is to be clear on the Behaviors that are required for the position.  The Ad needs to read;  You Are, You Have etc.  This way, the Ad will pre-qualify those that can do the job and those that can’t so that you will not be wasting valuable time processing unqualified people and their resumes.

Here are a number of examples of  Employment Ad copy that is written with the required Behaviors.  Note that the Ads talk to the reader;  You Have, You Are, versus wasting money on company profiles and job descriptions.

Outside Sales Associate

Experienced, Ambitious, Determined, Consistent and Traveling via Road and Air, Developing and Closing New Accounts and Servicing Some Existing Accounts …

Shipper/Receiver Wanted

You value attention to detail & enjoy completing repetitive instructions consistently. You like a fast-paced & challenging position in a ‘next day delivery’ environment. You keep your work area well organized & clean. You are dedicated to supporting your team.

Retial Sales Associate Wanted

You invest time learning vast amounts of product knowledge. You enjoy providing detailed information & building relationships with discerning clientele. You can work quickly – yet still have the patience necessary to work in a highly detailed sales environment.

Sales/Customer Service Associates

Results oriented, time management skills, high standards, positive attitude, communication & people skills, can work independently and with team, ready to assist our discerning customers’ w/purchases of _______________ with product knowledge through creative problem solving with detailed information.

Outside Sales Associate

Experienced, determined and ambitious to develop new and service existing dealer accounts.

Customer Service Manager

Experienced, visionary, deadline oriented, multi-tasking, people-oriented to manage inside sales, inventory, shipping & receiving.

Customer Service Person

You are enthusiastic & have 3-5 yrs exp with inside sales, inventory control, shipping & receiving and are attentive to detail, have high standards with the ability to multi-task, people & service oriented with exc. verbal & written communication skills & are able to weigh pros & cons when making decisions.

Administrative Sales Assistant

The successful candidate must:
- have successfully passed the Canadian Securities Course
- have the ability to quickly adapt to ever changing priorities
- be an enthusiastic team player with exceptional telephone, communication and interpersonal skills building team and client relationships
- have high standards and attention to detail while following procedures dealing with large volumes of paperwork
- have the ability to solve problems
- have proficient computer skills

Accounting/Admin Assistant

You are deliberate, self confident, solve problems, make decisions, control projects, time and details and achieve results with enthusiasm and people skills

Senior Sales Professional

You are a Senior Sales Professional with tenacious, yet refined cold calling skills.

You are Decisive, Ambitious, Determined, Consistent and will develop, close and maintain new USA Dealer/Fleet Accounts through Direct Mail/Telephone/E-mail/Web Contact integrated with Monthly Sales Trips and Trade Show Attendance.

Office Administration

You: are an enthusiastic team player with exceptional telephone, communication and interpersonal skills; adapt quickly to ever changing priorities; have high standards and attention to detail while dealing with paperwork; have proficient accounting and computer skills.

Regional Sales Manager

You enjoy challenge, are decisive and are a self-starter who enjoys competition, have a demanding attitude towards yourself and are quick to respond, moving quickly from one activity to another, enjoy working with people, follow rules and procedures and test new ideas and procedures at the same time.

Part 4 – Reilly's Reflections & Rants

“Behavioral Time Management” Assessment and follow up “Behavioral Time Management” Teleclass

We are about to launch a new product - “Behavioral Time Management” Assessment and follow up “Behavioral Time Management” Teleclass.

I thought that I would give you a preview.

Do you know your true Behavioral Style and the most effective way to manage your time?

If you are mostly assertive, commanding, decisive, driven, and impatient you likely experience the following time management challenges;

o  Everything is an “A” priority

o  Does not like to delegate

o  Poor planner

o  Great fire fighter

If you are mostly communicative, gregarious, outgoing, refined, social, and talkative you likely experience the following time management challenges;

o  Over promises and under delivers

o  Always says “yes”

o  Gets caught up in the future, and doesn’t take care of the present

o  Priorities are unclear

If you are mostly agreeing, constant, patient, resistant to change, and a team player you likely experience the following time management challenges;

o  Uncomfortable with change

o  Very methodical

o  Procrastinator

o  Does not “think out of the box”

If you are mostly attentive, conventional, insightful, a perfectionist, vigilant, and watchful you likely experience the following time management challenges;

o  Overly analytical

o  Analysis Paralysis

o  Compulsively neat

o  Shun conflict

Time Management systems are great when they are implemented and maintained with minimal effort.  At the same time they are a one size fits all system.  Do you ever wonder why you still struggle with time management?

Have you ever stopped to consider the true cost of poorly managed time?

• You are not living up to your standards and you know full well that you can do better
• You have so much going on that you can’t see a vision for the future
• The feeling of overwhelm and a loss of control is getting to you
• You can’t seem to focus because things are in disarray
• You don’t know what you want and therefore you don’t feel like you are making any progress
• Important things are not getting done and you feel a lack of achievement
• You are stressed out by adrenaline
• Your life is running you and you are not running your life
• You are frustrated with yourself and others because nothing is getting done due to poor delegation
• The stress is starting to have an affect on your health
• Relationships are affected because you are not clear on what we want and you are not fulfilled

I suggest that much can be attributed to a lack of an understanding of your Behavioral Style and how to apply it to your time management system.

Stayed tuned for our “Behavioral Time Management” Assessment and follow up “Behavioral Time Management” Teleclass.